Lundin Petroleum $5 billion reserve-based loan facility

5/2/2016

$ 5 billion

Completed

5/2/2016


Overview:

  • Lundin Petroleum has taken out a seven year up-to-$5 billion reserve-based loan (RBL) facility from 23 banks.
  • It is believed to be the largest RBL ever taken out by an upstream oil and gas company.
  • The deal consists of an initial $4.3 billion loan with an accordion feature allowing additional funding of $700 million.
  • The new facility replaces an existing $4 billion due to mature in 2019.
  • The funds will be used to develop the Johan Sverdrup oil field in Norway.

Jon Moore - Journalist

Jurisdictions:

Malaysia
France
Netherlands
Norway
Sweden
Switzerland
United Kingdom

Deal type:

Reserve-based lending (RBL)

Practice area:

Banking

Industry sector:

Oil and gas


Firms:

Party: Lundin Petroleum (Borrower)

Lawyer: Atle Stensrud


Party: Lundin Petroleum (Borrower)

Lawyer: Huw Thomas


Party: Lundin Petroleum (Borrower)


Party: BNP Paribas (Lender)



Party: BNP Paribas (Lender)

Lawyer: Thomas Bethel


Party: Lundin Petroleum (Borrower)


Party: BNP Paribas (Lender)

Lawyer: Pamela Kung


Party: Lundin Petroleum (Borrower)


Party: BNP Paribas (Lender)

Lawyer: Hans Witteveen


Party: BNP Paribas (Lender)